January 31, 2012
NEW YORK (CNNMoney) — President Obama’s half dozen energy proposals will, by and large, benefit nearly all players in the energy space and result in lower prices for consumers, analysts say.
- Analysts say the combination of Obama’s plans truly represent an “all-of-the-above” approach.
- Natural gas, out off all the different energy players, natural gas seems to have won the most.
- The oil industry, Obama offered new leases in the Gulf of Mexico and pledged to open 75% of the country’s resources for drilling, which reflects a prior commitment made by the President.
- Oil and natural gas production has jumped 14% and 10% respectively, according to the Energy Information Administration.j
- For renewables technologies like wind and solar, Obama called for extending tax credits that basically give these firms a 30% subsidy.
- Electricity from solar and wind has risen three-fold since Obama took office, according to those industries’ trade associations.
- Coal and nuclear are the only two fuels that didn’t garner an outright mention but the bipartisan Policy Center’s Bledsoe said the administration is on track to give the final OK on an $8 billion loan guarantee for a new nuclear plant in Georgia sometime in the next few weeks.
- The consumer: While prices for oil, which trades globally, remain relatively high, natural gas prices have plummeted, largely as a result of production increases.
- EIA estimates the country’s oil production will grow another 20% by 2020 & due to that and higher fuel efficiency standards the United States will go from importing 49% of its oil in 2010 to 38% by 2020.
- “Ultimately, consumers will be the beneficiaries of these policies,” said Mayer Brown’s Valera. “And when the consumer at large wins, businesses of all type win.”
The President has restated previous commitments and offered new policy plans that appeal to both political parties. These policies can be reached if professionalism prevails to take advantage of this out-stretched hand for long awaited compromise. While many of us with ever-present environmental concerns for continued oil & gas development this balanced approach to the country’s overall energy policy is the pragmatic solution.
January 31, 2012
This article calls into question once again the claims by proponents of torture that its methods played a significant role in the finding bin Laden and subsequent attack on his compound.
WASHINGTON (AP) — Defense Secretary Leon Panetta is acknowledging publicly for the first time that a Pakistani doctor provided key information to the U.S. in advance of the successful Navy SEAL assault on Osama bin Laden’s compound last May.
Panetta told CBS’s “60 Minutes,” in a profile to be broadcast on Sunday, that Shakil Afridi helped provide intelligence for the raid on bin Laden’s compound in Abbottabad, Pakistan.
January 30, 2012
Newt Gingrich is basing his bid for the Republican presidential nomination, in large part, on one premise: He is the candidate best equipped to debate President Obama.
If he becomes the nominee, Gingrich asserts, he will challenge the president to seven Lincoln-Douglas-style debates, three hours apiece. He says the president’s ego would compel him to accept, but if he doesn’t, Gingrich promises, “I’m going to say, ‘The White House is now my scheduler,’ and wherever he goes, I will show up within four hours to take apart whatever he said — that’s how Lincoln got Douglas to debate.”
It’s easy to dismiss Gingrich’s challenge as a gimmick, just some red meat to excite GOP primary voters, and not a challenge Obama would ever accept. But what if he did? What if the president and the former House speaker dueled in a series of open, nationally televised debates? An honest look at Gingrich’s record suggests that the results could differ markedly from the fantasies of Team Newt.
January 27, 2012
With the economy at the core of the presidential campaign, Newt Gingrich has received help from a group of relatively unknown economic thinkers — including two former advisers to Herman Cain — who share an unwavering faith in the school of thought known as “supply-side economics” that rose to prominence more than three decades ago.
Unlike Mitt Romney, who long ago surrounded himself with mainstream Republican economists, Gingrich has turned to more zealous advisers who believe the only true solution to healing the nation’s deficit is to spur economic growth through sharp tax cuts, reduced regulation and a tight rein on monetary policy, rather than focusing too keenly on spending cuts.
January 24, 2012
WASHINGTON — Two years ago, President Obama popped a surprise into his State of the Union address: His administration would double American exports in five years, helping to create two million jobs.
The bold promise sent the eyebrows of economists and policy experts upward, even as they applauded its intent.
Two years later, the administration is on track — for now — to meet its ambitious goal. Growing exports have been one of the central drivers of the recovery, accounting for about half the nation’s economic growth since the recession ended. Economists say the administration deserves credit for some of the gains.
January 23, 2012
Is shale gas good for us or not? Most of that argument has been over the potential risks that hydrofracking for shale gas might pose to water supplies—risks that were highlighted again this week when the Environmental Protection Agency (EPA) came to Dimock, PA, to test groundwater in the area. You might know Dimock from the anti-fracking film Gasland—a group of residents have claimed for years that fracking poisoned their water supply, and federal involvement indicates there may be more at stake.